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701 Admiralty Way Fort Worth, TX 76108

3 Beds 2 Baths 1,265 sqft Built 1980

$189,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $149.41
  • 3 Days on Market
  • MLS # : 14475231
  • Updated Date : 11/20/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,265 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Are you ready to decorate for Christmas in a home of your own? The finish out in this property is what you see in homes that could cost you much more! Inside you will be please to find freshly laid laminate plus tile in the all the right places. The kitchen is open to the family room and has newly replaced stainless appliances including a dishwasher, drop in range, built-in microwave and pretty granite countertops plus an abundance of storage. Oh, and don't forget the breakfast bar! The home also has fresh paint, ceiling fans and an attached 2 car garage. This 3-2-2 is located in the West Point Addition and the students will attend White Settlement ISD. Be sure and add this to your short list.

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)

PRICE & RENT TRENDS

Neighborhood: Westpoint

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Westpoint

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9161734

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Blue Haze Elementary School Primary Regular 844 48 7
Brewer Middle School Middle Regular 986 55 6
Brewer Middle School High Regular 986 55 6

Blue Haze Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 48
7
GreatSchools Rating

Brewer Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating

Brewer Middle School

  • Education Level: High
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating
 

$170,100$207,900$189,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$697
Property Tax -$433
Property Insurance -$100
Property Management Fees -$99
CASH FLOW
$10

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$189,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,835

INVESTMENT

$55,835

Down Payment
$47,250
Rehab Estimate
$5,750
Closing Costs
$2,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,250
Loan Amount $141,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$10,321

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,340

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,335

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3403$1,3754$1,3995$1,500
$1,500
RENT COMPS ANALYSIS
  • 701 Admiralty Way Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.06
    •  
  • 721 Reveille Road Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1978
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.03
    •  
  • 10157 Peppertree Lane Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 1979
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.04
    •  
  • 804 Annapolis Drive Fort Worth, TX 4
    • 3 beds 3 baths ∙ 1,327 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,327 Sqft ∙ Built 1979
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.05
    •  
  • 708 Annapolis Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1980
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.10
    •  
PROPERTY LISTING DETAILS
Pamela Yoakum
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475231
Last Updated: 11/20/2020
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